Louisiana State Employees Retirement System Has $1.84 Million Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Louisiana State Employees Retirement System lessened its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,800 shares of the semiconductor company’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cirrus Logic were worth $1,838,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CRUS. Stonegate Investment Group LLC boosted its stake in Cirrus Logic by 5.3% during the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock worth $221,000 after acquiring an additional 90 shares during the last quarter. Profund Advisors LLC boosted its position in shares of Cirrus Logic by 2.0% during the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock worth $673,000 after purchasing an additional 103 shares in the last quarter. Arkadios Wealth Advisors boosted its position in shares of Cirrus Logic by 2.8% during the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after purchasing an additional 119 shares in the last quarter. Oak Associates Ltd. OH grew its holdings in shares of Cirrus Logic by 0.4% in the 2nd quarter. Oak Associates Ltd. OH now owns 34,176 shares of the semiconductor company’s stock valued at $4,363,000 after buying an additional 134 shares during the period. Finally, Holderness Investments Co. increased its position in shares of Cirrus Logic by 0.3% in the 2nd quarter. Holderness Investments Co. now owns 47,366 shares of the semiconductor company’s stock valued at $6,047,000 after buying an additional 155 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $114.22 on Thursday. Cirrus Logic, Inc. has a one year low of $65.08 and a one year high of $147.46. The company has a market cap of $6.10 billion, a PE ratio of 21.11 and a beta of 0.96. The firm’s 50 day simple moving average is $127.59 and its 200 day simple moving average is $121.31.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.50. The firm had revenue of $374.03 million during the quarter, compared to analyst estimates of $318.41 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 EPS. Equities research analysts expect that Cirrus Logic, Inc. will post 5.26 EPS for the current year.

Wall Street Analysts Forecast Growth

CRUS has been the topic of several research analyst reports. Stifel Nicolaus raised their target price on shares of Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Barclays lowered shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $140.00 to $120.00 in a research note on Thursday, October 10th. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. KeyCorp upped their price objective on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Susquehanna dropped their target price on Cirrus Logic from $175.00 to $160.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cirrus Logic currently has a consensus rating of “Moderate Buy” and an average target price of $137.50.

Insider Buying and Selling at Cirrus Logic

In related news, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the sale, the vice president now owns 4,004 shares in the company, valued at $544,704.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at $637,212.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the transaction, the vice president now owns 4,004 shares of the company’s stock, valued at $544,704.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.